Fox Run Management L.L.C. Decreases Stock Holdings in Leonardo DRS, Inc. $DRS

Fox Run Management L.L.C. lessened its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 66.7% during the second quarter, HoldingsChannel.com reports. The fund owned 8,025 shares of the company’s stock after selling 16,063 shares during the quarter. Fox Run Management L.L.C.’s holdings in Leonardo DRS were worth $373,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DRS. Vanguard Group Inc. raised its position in Leonardo DRS by 0.3% in the first quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company’s stock valued at $261,656,000 after purchasing an additional 22,990 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Leonardo DRS by 16.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company’s stock valued at $192,298,000 after buying an additional 804,938 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Leonardo DRS by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,096,885 shares of the company’s stock worth $36,066,000 after acquiring an additional 8,516 shares in the last quarter. Nuveen LLC purchased a new position in Leonardo DRS in the 1st quarter worth approximately $31,254,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Leonardo DRS by 1.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 894,122 shares of the company’s stock valued at $29,399,000 after acquiring an additional 13,911 shares in the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Leonardo DRS news, CFO Michael Dippold sold 19,360 shares of Leonardo DRS stock in a transaction on Friday, September 12th. The shares were sold at an average price of $41.65, for a total value of $806,344.00. Following the completion of the transaction, the chief financial officer owned 58,834 shares of the company’s stock, valued at $2,450,436.10. The trade was a 24.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO John Baylouny sold 8,481 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $43.69, for a total transaction of $370,534.89. Following the sale, the chief operating officer owned 106,007 shares of the company’s stock, valued at approximately $4,631,445.83. The trade was a 7.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 55,039 shares of company stock worth $2,303,587. 0.34% of the stock is currently owned by insiders.

Leonardo DRS Price Performance

Shares of DRS stock opened at $35.46 on Thursday. The firm has a market cap of $9.43 billion, a P/E ratio of 36.18, a P/E/G ratio of 2.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS, Inc. has a 1-year low of $28.17 and a 1-year high of $49.31. The firm has a fifty day moving average of $40.89 and a two-hundred day moving average of $42.50.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Wednesday, October 29th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $924.79 million. Leonardo DRS had a net margin of 7.43% and a return on equity of 11.45%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. Leonardo DRS has set its FY 2025 guidance at 1.070-1.120 EPS. As a group, research analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be given a $0.09 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Leonardo DRS’s dividend payout ratio (DPR) is presently 36.73%.

Wall Street Analysts Forecast Growth

DRS has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on shares of Leonardo DRS from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Leonardo DRS in a research note on Wednesday, October 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $50.00 price objective on shares of Leonardo DRS in a research report on Thursday, October 30th. Truist Financial lowered their target price on Leonardo DRS from $49.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Finally, Zacks Research cut Leonardo DRS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.14.

About Leonardo DRS

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.